American entrepreneurs, including Elon Musk, Philip Goldstein, and Mark Cuban, have filed an amicus curiae brief in the US Securities and Exchange Commission (SEC) case against George Jarkesy Jr.

埃隆·马斯克 (Elon Musk)、菲利普·戈德斯坦 (Philip Goldstein) 和马克·库班 (Mark Cuban) 等美国企业家已就美国证券交易委员会 (SEC) 针对小乔治·贾克西 (George Jarkesy Jr.) 的案件提交了法庭之友陈述。

Their appeal to the Supreme Court stated the following:

他们向最高法院提出的上诉陈述如下：

“The SEC’s insistence on administrative proceedings when federal court juries are readily available runs contrary to the SEC’s mission and harms the very investors and markets the SEC is charged with protecting.”

“在联邦法院陪审团随时可用的情况下，美国证券交易委员会坚持采取行政诉讼，这违背了美国证券交易委员会的使命，并损害了美国证券交易委员会负责保护的投资者和市场。”

Court filing

法庭备案

According to the authors, the current mechanism for reviewing administrative cases gives the SEC an “undue advantage” over defendants.

作者表示，现行的行政案件审查机制使美国证券交易委员会相对于被告拥有“不正当优势”。

According to court records, Jarkesy created two hedge funds worth $24 million in 2007 and 2009. He invested primarily in small businesses. The investment consultant was Patriot28.

根据法庭记录，贾克西于 2007 年和 2009 年创建了两只价值 2400 万美元的对冲基金。他主要投资于小型企业。投资顾问是Patriot28。

The SEC later charged Jarkesy and the firm mentioned above with defrauding investors. In 2013, the regulator assigned a review to its judge based on the Dodd-Frank Act and ordered the entrepreneur to pay a fine.

美国证券交易委员会随后指控 Jarkesy 和上述公司欺骗投资者。 2013年，监管机构根据《多德弗兰克法案》向法官指派审查，并责令该企业家支付罚款。

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Jarkesi filed a protest demanding a review of the case. He said the SEC’s actions violated the Seventh Amendment (right to trial by jury).

雅克西提出抗议，要求对此案进行复审。他表示，SEC 的行为违反了第七修正案（陪审团审判的权利）。

In 2020, after several proceedings, the commission upheld the verdict. Later, the department admitted that they had “illegal access” to the materials of a dozen cases, including the case of Jarkesy.

2020年，经过多次审理，该委员会维持了原判。后来，该部门承认他们“非法获取”了包括贾克西案在内的十几起案件的材料。

In May 2022, given new details in the case, the U.S. Court of Appeals for the Fifth Circuit ruled in favor of Jarkesy. It restored his seventh amendment rights. The US Department of Justice filed an appeal against this decision. The Supreme Court is expected to hear it in November 2023.

2022 年 5 月，鉴于案件的新细节，美国第五巡回上诉法院做出了对贾克西有利的裁决。它恢复了他第七修正案的权利。美国司法部针对这一决定提出上诉。最高法院预计将于 2023 年 11 月举行听证会。

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